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Shakira Leaves Record Company for Live Nation

Shakira has become the latest pop star to leave the major record companies for Live Nation, the international touring giant that has begun signing up marquee names for lucrative all-purpose contracts. After months of speculation, Shakira, a 31-year-old Colombian singer of Lebanese descent who is a strong international touring draw, has signed a 10-year deal with Live Nation that will encompass tours, recordings, sponsorship and merchandise throughout the world, she announced. Neither Shakira's representatives nor Live Nation would confirm the value of the deal, but people close to the negotiations said that depending on Shakira's performance over the 10 years, it is likely to be worth between $70 million and $100 million. Shakira's contract with Epic Records calls for three more albums -- one in English, one in Spanish, and a compilation -- but the touring and other rights of the Live Nation deal would begin immediately.